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Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.

Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.
Transcribed Image Text:Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.
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